Biden's 2025 Budget

Extracted Attributes

• Projected Revenue

  $5.485 trillion (18.7 percent of GDP for 2025)

• Fiscal Year Period

  2024-10-01 to 2025-09-30

• Total Proposal Value

  $7.3 trillion (Total federal outlays requested)

• Defense Spending Increase

  1 percent (Requested increase over previous budget)

• Projected Deficit Reduction

  $3 trillion (Estimated over a 10-year window)

• Proposed Billionaire Minimum Tax

  25 percent (Targeting households with assets over $100 million)

• Projected Debt held by the Public

  $29.984 trillion (102.2 percent of GDP for 2025)

• Non-Defense Discretionary Spending Increase

  2.4 percent (Requested increase over previous budget)

Timeline

• President Joe Biden officially releases the $7.3 trillion Fiscal Year 2025 budget request to Congress. (Source: President Biden Releases FY 2025 Budget Request)

  2024-03-11

• The 2025 Fiscal Year officially begins for the United States federal government. (Source: Wikipedia: 2025 United States federal budget)

  2024-10-01

• Congress passes a full-year continuing resolution that extends 2024 budget levels through the remainder of the 2025 fiscal year. (Source: Wikipedia: 2025 United States federal budget)

  2025-03-01

• The 2025 Fiscal Year officially concludes. (Source: Wikipedia: 2025 United States federal budget)

  2025-09-30

2025 United States federal budget

The United States federal budget for fiscal year 2025 ran from October 1, 2024 to September 30, 2025. The federal government operated under a full-year continuing resolution passed in March 2025, which extended the 2024 budget for the whole 2025 fiscal year, with limited changes.

Web Search Results

• Analyzing President Biden's 2025 Budget

  Reflecting on both the response to the pandemic and the current state of our unemployment insurance (UI) system, President Biden’s 2025 budget includes a set of principles for reforming UI. His proposals include: (1) providing adequate benefits in every state; (2) ensuring the system is easily scalable for economic downturns; and (3) establishing a federal floor on states’ eligibility rules. [...] President Biden’s 2025 budget proposes a 25 percent minimum tax on total income, including unrealized capital gains, for the 0.01 percent of households with at least $100 million in assets. It also scales back other tax breaks for wealthy households. This includes taxing capital gains and dividends at the same rates as wage income for households with more than $1 million in income and closing loopholes for pass-through business owners, private equity, and real estate. [...] President Biden’s budget for fiscal year 2025 rightly calls for restoring the 2021 American Rescue Plan’s expansion of the Child Tax Credit, which dramatically reduced child poverty, contributing to a record-low child poverty rate of 5.2 percent in 2021. The Rescue Plan’s Child Tax Credit expansion also narrowed racial and ethnic disparities in child poverty rates (see chart).

• President Biden's FY2025 Budget Proposal: Budgetary and ...

  On a conventional scoring basis, PWBM estimates that, over the 2025-2034 budget window, President Biden’s FY2025 budget proposal would increase spending by $1.9 trillion and revenues by $3.6 trillion. It reduces primary deficits by the difference, equal to $1.7 trillion relative to current law. [...] Summary: PWBM estimates that President Biden’s FY2025 budget proposal would reduce primary deficits by $1.7 trillion over the 2025-2034 budget window. Accounting for economic feedback effects, GDP falls by 0.8 percent relative to current law in 2034. By 2054, debt falls by 5.4 percent and GDP declines by 1.3 percent relative to current law. Key Points [...] # President Biden’s FY2025 Budget Proposal: Budgetary and Economic Effects Introduction As in previous years and previous administrations, President Biden’s Fiscal Year 2025 budget contains some policy proposals that are specific in detail along with other proposals that are more aspiration with fewer details. Following a long-established scoring tradition, we follow a specific set of rules when analyzing specific proposals that vary in the details provided.

• PRESIDENT BIDEN'S 2025 BUDGET

  PRESIDENT BIDEN’S 2025 BUDGET Builds On Our Historic Progress Thanks to the historic investments delivered by President Biden and House Democrats, our economy is leading the world, nearly 15 million jobs have been created, and inflation-adjusted wages are now higher than before the pandemic. President Biden’s 2025 budget builds on this historic progress by lowering costs for families, protecting Social Security and Medicare, and cutting the deficit about $3 trillion over the next decade by making [...] President’s Budget 2025 $ in billions % of GDP Outlays Discretionary 1,929 Mandatory 4,372 Net Interest 965 Subtotal, outlays 7,266 24.8 Revenue 5,485 18.7 Deficits 1,781 6.1 Debt held by the public 29,984 102.2 Key Economic Indicators Projected Values 2024 2025 Avg. 2025-34 Real GDP, % change y/y 1.7 1.8 2.1 Consumer Price Index, % change y/y 2.9 2.3 2.3 Unemployment rate, % 4.0 4.0 3.8 10-year Treasury Notes 4.4 4.0 3.8 • Reduces the cost of health care, such as by extending enhanced premium [...] Deficit Reduction in the President’s Budget 2025-2034 in billions of dollars OMB Baseline deficits 19,524 Proposals in the budget: Revenue 4,921 Mandatory spending -2,526 Discretionary spending 452 Net Interest 380 Subtotal, proposals 3,227 Policy deficits 16,297 Negative numbers make the deficit worse. HOUSE REPUBLICANS’ 2025 BUDGET Takes America Backward While President Biden’s budget continues to deliver for working Americans, House Republicans’ budget shows just how far they’ll go in their

• President Biden Releases FY 2025 Budget Request

  The President’s FY 2025 budget request largely adheres to the budget caps agreed to by Congress and the White House as part of the 2023 debt ceiling negotiation. Overall, the request totals $7.3 trillion – a 4.7% increase over the current budget. It seeks to boost defense spending by 1% and non-defense discretionary spending by 2.4%. Highlights of the request include: [...] The President’s budget request, while an important policy and political marker, is a blueprint, or suggestion — Congress has the constitutional authority to write the spending bills that fund the federal government. Both the House and Senate will soon hold hearings to consider different aspects of the President’s budget. Top administration officials will testify before Congress, and the House and Senate Appropriations Committees will craft the FY 2025 spending bills this summer. Committee

• Breaking Down the Proposals in the President's FY 2025 ...

  The Biden Administration recently released the President's Fiscal Year (FY) 2025 budget, outlining President Biden's tax and spending priorities for the next decade. The budget proposes $3.3 trillion of net deficit reduction through 2034, including $3.2 trillion of new spending and tax breaks that is more than offset by $5.2 trillion of revenue increases, over $900 billion of spending reductions, and nearly $400 billion of net interest savings. [...] The President's FY 2025 budget proposes various spending increases and tax cuts that would be more than offset by revenue increases and spending reductions, resulting in $3.3 trillion of net deficit reduction through 2034. Policymakers should look at the proposals in the President's budget as they consider how to put the national debt on a sustainable downward path. ## Trending Blog Other Spending ### Appropriations Watch: FY 2026 [...] Below is our breakdown of the President's FY 2025 budget proposals, which largely track with the President's 2024 budget proposals. The below analysis adds on to the 2024 budget analysis with the new policies offered in the 2025 budget. ### Policy Proposals in the President's FY 2025 Budget